I have had two conversations with the new Investor Relations firm CNRC has hired. Spoke to Jonathan Patterson the CEO of Harbor Access. He picks up the phone, which is a good sign. He is knowledgeable about the company, both the good and the bad. He was honest in his appraisal of the company. He understands that there is a lot of investor frustration over the many unfulfilled promises made by FK. He took on this company because of the commitment of the new management team to doing things right and making a sizable investment to improve the production of the oil fields. It is not going to be an overnight turnaround. The oil business does not work that way. Drilling takes time to get results. West Virginia is not like the Permian Basin in Texas where one 30,000-foot well makes your day. We will be reworking 1,000 foot wells and drilling new wells that are probably 1K - 4K deep at most. So we need lots of wells, and that is where the Kubera technology comes in. We have to assume the new owners did their due diligence and know their technology will work on the CNRC wells. Now it becomes a matter of how fast they can get the work done, and that is going to take a few quarters for the financial results to trend upwards. He committed that this will be the last quarter where "revenue from securities" will be the basis for the financials. We should expect more clarity, more complete financials, and better investor communications moving forward. I have been an investor in this company for over 8 years and own over 7M shares, so I have a keen interest in them getting this turned around. I am confident the new management team will correct the errors of the past and we will see better results in the next 6 - 12 months.
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